Two ICOs Settle With the SEC to Register their Tokens as Securities-1.61

Just yesterday, the 16th of November, the Securities and Exchange Commission (SEC) released a statement announcing that they had settled charges against two companies that carried out ICOs that fall under securities offerings. In the announcement, the SEC explained that both companies have agreed to return funds to harmed investors as well as register their tokens as securities. The two firms would also file periodic reports with the Commission and pay penalties.

The two firms cited by the SEC are CarrierEQ Inc. (Airfox) and Paragon Coin Inc. Both of these companies carried out ICOs in 2017. Airfox raised an estimated $15 Million worth of digital assets while Paragon raised approximately $12 Million.